Serabi Gold Share Discussion Threads

[trader536] 29/10/2020 11:54

Woof woof lol

[kennyp52] 29/10/2020 09:19

Great post tightfist .. that’s where we need to be . Boris ... my feeling entirely . Keep the faith I suppose and be patient .

[borisjohnsonshair] 29/10/2020 09:17

Buying opportunity. Unexpected and not really welcome but ....

[tightfist] 29/10/2020 09:10

We should receive more operational status wrapped around the Q3 financials, which last year were on 11th November. .Agreed tiger - Hopefully (fingers crossed) we will hear that the crew is back to 100% strength, the new shift pattern is delivering, more mining faces have been resumed, such that RoM ore flow is now exceeding Process Plant capacity, and that it has made economic sense to re-start the Ore Sorter........One thing to be aware of - I don't believe the flotation tails stockpile will last throughout 2021, so improving the RoM ore flow will become increasingly important?

[tiger60] 29/10/2020 09:02

Mining rate needs to be above plant rate for the ore sorter to come into play. This is not happening at the moment

[kennyp52] 29/10/2020 08:52

tiger60 ..... why not ? Ore sorted not even in use to date . At least then we need to see some guidance that they are going to do what they get paid for ... mine gold ... and lots of it before it retraces back to $1300 ! ( hopefully will hold in excess of $1500 for years to come but you simply do not know )

[bsg] 29/10/2020 08:44

S35, II's will do diddly, just wait until the BOD give themselves some options down here. As they're doing such a fine job.

[imastu pidgitaswell] 29/10/2020 08:43

Why do people make such a thing of AISC?

It's just a calculation, a residual effect of total costs and production. Production falls, AISC goes up. It's not a driver, the total costs incurred and the volume produced are the drivers.

It's just a high level metric, theoretically intended to enable to comparisons between producers. In practice, it is susceptible to one-time sometimes arbitrary hits in a 12 month period, different inputs and accounting treatments etc, and not very useful unless you're talking producers in the same vicinity and the variances are c50% or more.

Kenny's right on the production issue here. End of. Fix that, fixes everything. And then you would get more interest from serious investors and less interest from fly-by-night short term hopers.

[tiger60] 29/10/2020 08:40

You say 10K ounces needed next quarter but we know that is not realistic

[kennyp52] 29/10/2020 08:38

Simple ... production , production , production . Health and Safety is taken to extremes these days . PPE and get on with mining . Our construction industry has continued at more or less full pace in the UK . 10k ounces needed next quarter RNS . No more messing about .

[tiger60] 29/10/2020 08:27

I understand your frustration with the Greenstone terms but this was a while back and discussed at the time. Not many PIs were happy but there is nothing underhand the information is all in the public domain with the last drawdown of 500,000 taken in July. Since which time we have been self financing.

It isn't just SRB that have hit a rough patch many gold miners and explorers have seen a rerating downwards. Unfortunately for us that rerate coincided with our Qtr 3 results. I understand a pullback on the results (although not to the extent we have seen) but the correction in goldies is puzzling and believe only a short term blip.

After the election and with a Democrat win (the question being will they take the Senate as well) the stimulus plans will go ahead and at a higher level than first touted. This and a more open approach to social and infrastructure projects will see a weakening dollar and increasing gold price. The Fed will not be raising rates anytime soon. In Europe they will follow suit with more stimulus on the way. This can only be good for gold. Even a contested election - the markets worst fear will be an interesting scenario for gold.

Look 8,000 oz will give us another 3.5-4m free cashflow (without recourse to debt). I am concerned Qtr3 AISC will be higher than Qtr 2 and profit margins will suffer in the short term but from a liquidity point of view we have blue sky ahead. Even including all exploration and drilling a cash burn of 0.5m in 2021 will only slightly dent our bank balance.

We are in a good place maybe not so much down to MH but happy to be here whilst the gold story strengthens. Once we see our financials we can have a better idea of our PE ratio and fair share price.

I would like to think 80p is our support level but the markets are wild at the moment lets get past 3rd Nov and see where the political landscape lies.

So much for 80p support!

[borisjohnsonshair] 29/10/2020 08:25

Un-effing real. 30% off recent highs due to missing forecast by 10% but making loads of cash. It's frustrating but a classic moment to buy not sell. I'll do this.

[borisjohnsonshair] 29/10/2020 07:34

Lots of details work there. At the end of the day we are making cash, cleared debt and paying off Coringa. Nothing has changed and the future is rosy. The price is wrong!!!

[sherry35] 29/10/2020 04:32

Here are the May and June CLS transactions. These 2.0M shares were purchased under the CLS. Sourced from SEDAR and SEDI ...

On June 30, 2020, Serabi issued US$500,000 convertible loan notes (equivalent to C$684,100, using the closing exchange rate of US$1:C$1.3682 on June 29, 2020 published on the Bank of Canada website) (“Third Tranchee”) to the acquiror pursuant to a subscription deed entered into by Serabi and the acquiror on January 21, 2020, as amended (the “Subscription Deed”). In addition to the Third Tranche, Serabi issued US$500,000 convertible loan notes to the acquiror on each of 30 April and 29 May, as a result of which, following the issuance of the Third Tranche, the acquiror has subscribed for an aggregate of US$1,500,000 convertible loan notes (the “Convertible Loan Notes”). Pursuant to the Subscription Deed, subject to satisfaction of certain conditions, up to US$12 million convertible loan notes may be subscribed by the acquiror.

... plus ...

Jul 30, 2020 (filed on Aug 04, 2020)
Insider Name:
Greenstone Resources II L.P.
Ownership Type:
Direct Ownership
Securities:
Convertible Debentures US$12 million Convertible Loan Notes 2021
Nature of Transaction:
11 - Acquisition or disposition carried out privately
# or value acquired/disposed of:
500,000
Price:
$0.76

[tiger60] 28/10/2020 18:59

It’s OK he won’t get re-elected

[sherry35] 28/10/2020 18:49

tightfist - Given your stated expertise managing projects and creating high level reports on projects, I would like to hear about your opinion on the Gnatt chart in the investor slide package.

[sherry35] 28/10/2020 18:41

To further add, couple the Trump put with share buy backs (using low interest loans courtesy of the FED lads), the USA market will continue north along with US dollar. POG heads south. With the FED waiting at least two years to march rates north, do you think Coringa will be commissioned in time to enjoy the ride up with the POG?

[sherry35] 28/10/2020 18:02

POG may continue its path south to $1800 US when Trump wins the election. With the FED rates at zero and the market starting to recover, this is same situation where Trump got elected in his first term. POG started to move north with the FED increasing rates from 2018 into 2019.

Flash forward to now, FED rates are at or near zero and the market appears to be recovering in certain areas. Housing demand is up, trucking rates are up, container rates are up. With Trump's re-election coming next week, the Trump market put will be back in play and we'll have to wait at least 2 years for the FED to raise rates for the POG to continue north. Even during that time, can MH get Coringa commissioned in 4Q2022?

Well it was nice ride but unfortunately conservative MH's mgmt of SRB missed the Au run up. Now he appears to demonstrate aggressive mgmt, in "drill or kill" drill program on the SD licenses but in the video he states "there's enough there to do a profitable operation". So, the risk of the drill program is very very low hence not a very aggressive action taken. Anyways, to little to late for the Trump put will be in play starting Nov 4th 2020. On aside, bye bye corrupt sleepy Joe.

I give MH 3 months to update us on the farm-in candidates give his wink wink hint on the Crux interview video. Couple that with 2 months to get the remaining permits for Coringa. It's a Latin America country for Pete's sake - do the currency math.

[trader536] 28/10/2020 17:27

Next stop for this dog is 75p......

[cotton4] 28/10/2020 16:32

This year I have had 2 cruises cancelled but PLAN to go cruising again in 2021. The problem is I cannot commit to that until things are clearer re Covid. The management at SRB will probably have an outline PLAN going forward but due to Covid are not in a position to say what that plan is until things are clearer. How many on here can definitely say what their palns are for the next, say 6 months, maybe other than lay low.
In the meantime, we will rake in the cash and leave the management to what the can under their control. Like everyone else on this BB, I was disappointed with qtr4 production guidance of 8000 ounces. What we have been told is that they now have staffing levels back to about normal and there seems, imo, no reason why they can't increase the staffing even more and increase the production to levels where the ore sorter will kick in.
What is apparent is we are not in lockdown, the mines are operating and exploration has started again. Under the circumstances I believe that the financials in mid November will be refreshing, not that the AISC will have risen above $1300 but that the company is generating cash, when companies worldwide are scrambling for cash to keep them afloat.

Apologies for the rant.

[borisjohnsonshair] 28/10/2020 14:54

It's just impatience of the get rich quick mentality that drives everything. This is a diamond company and will come good soon!! Sitting on a gold mine!!